Geoffrey Joyce provided expert testimony to the California Standing Committee on Health about the role of the biomedical industry as it relates to healthcare costs. “In the short run we all want unfettered access to the latest technologies and high prices obviously restrict access to those goods,” he said. “But in the long run we also want firms and innovators to develop new treatments and they need financial incentives to do that.” The inefficiencies in our healthcare system in large part come from the fact that we pay for doing stuff rather than for value, he argued. Watch his testimony here.
Making Health Care Affordable: What’s Driving Costs?
